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If you have a business that is not a lifestyle business…a business that you want to get value out of eventually for retirement or any other purpose…and/or you want to have as many options for exit as possible…you will need to build your business so that it’s sellable or transferable…
That involves key value drivers like strong financial performance, a next level management team, product and service differentiation, and a plan for future growth among other value drivers...
And a strategy that you can and should employ is to rightly incentivize your employees who are going to make growth and profitability happen…
As an owner, you will want to make sure the goals of your key employees are aligned with your goals for exit and growth…and then incentivize them appropriately to attain those goals…
